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julesrbf
Baby Girl
Member since 6/09 3882 total posts
Name:
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Foreclosure question
We just found out our upstairs neighbor in our building received a foreclosure notice from her bank yesterday.
I don't know much about how foreclosure proceedings work, but what does this really mean? Will she be forced to move out of her co-op? Does she have x amount of days to try to come up with some money?
Just curious what this really means for our neighbor.
TIA!
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Posted 12/7/10 11:47 AM  |
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Long Island's Largest Bridal Resource |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Foreclosure question
it means she hasn't paid her mortgage in 4 to 6 months
the letter is the first step
in NY on average it takes close to 500 days from start to the eviction
she either needs to pay the back money or work something out with the bank- loan mod, repayment, short sale etc
if she does nothing the shreiff will be there to kick her out and she will get a huge judgement against her from the bank after they sell it
she should figure out what's best for her and contact an attorney or realtor
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| Posted 12/7/10 11:53 AM |
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julesrbf
Baby Girl
Member since 6/09 3882 total posts
Name:
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Re: Foreclosure question
Thanks so much for your very detailed answer!
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| Posted 12/7/10 11:57 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Foreclosure question
if she needs help- FM me and I will give you my contact info
(I am a realtor)
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| Posted 12/7/10 12:42 PM |
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